Importance

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Abstract

A method for identifying spending behaviors in a geographic area includes: storing, in a database, a plurality of geographic centroids, each corresponding to a centroid of a predefined geographic area; receiving a plurality of financial transactions involving each consumer of a plurality of consumers; identifying a geographic location of each transaction; calculating, for each consumer, a purchase centroid of the transactions involving the consumer based on a centroid of the location of each of the transactions involving the consumer; analyzing, for each consumer, spending behaviors based on the consumer's transactions; associating the analyzed spending behavior for each consumer with the corresponding purchase centroid; associating the analyzed spending behaviors for each purchase centroid with a predetermined number of geographic centroids based on the distance from the purchase centroid to each of the geographic centroids; and aggregating, each of the spending behaviors associated with each geographic centroid.

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First Claim